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Indonesian conglomerate, Indika Energy is preparing to bring one of their companies, NET TV, public on the Indonesian Stock Exchange (IDX) via an initial public offering (IPO).
As a result of the IPO, Tokopedia is set to own 8.5% of PT Net Visi Media, the company that manages NET TV.
NET TV will go public with the issuer code NETV on 25th January, 2022.
The prospectus published by PT Net Visi Media stated it will offer 765 million new shares with a public offering price of IDR 190 to IDR 196 per share.
Hence, the maximum amount of funds that can be acquired is approximately IDR 150 billion via the listing.
In 2013, NET TV appeared on the small screen after it was fully acquired by Indika from PT Televisi Anak Spacetoon.
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During November 2017, NET TV inked an agreement with Tokopedia initially, to transfer convertible bonds worth IDR 405 billion.
It was only on August 2018, that Tokopedia transferred the bonds to PT Spirit Bambu Runcing, a subsidiary company of Tokopedia.
It is mentioned that the conversion of the bonds to equity will take place at the same time as NET TV's IPO.
Meanwhile, a merger between Gojek and Tokopedia, under GoTo Group, is set to go public really soon.
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